McKesson price target raised to $904 from $861 at Deutsche Bank

Deutsche Bank analyst George Hill raised the firm’s price target on McKesson (MCK) to $904 from $861 and keeps a Buy rating on the shares. The company reiterated plans to exit the its med-surgical business segment through an initial public offering, followed by a spin-off or split-off, with the separation being complete by the end of 2027, the analyst tells investors in a research note. The firm says that while the transaction is likely dilutive, the stock “can still perform through the transaction.”